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MATIC, XRP and Dogecoin Price Analysis – Aug 16




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It has been a mixed day for the cryptocurrency industry. With Bitcoin above $ 47K, Dogecoin appreciated by 10.8%, while MATIC only posted minor gains of 1.5% after breaking the $ 1.51 resistance. By contrast, XRP declined slightly on the charts, despite holding at a multi-month high of $ 1.29,

MATIC

MATIC was valued at $ 1.53 at press time. The alt pushed north from the $ 1.36 support, where it traded for the past few days, and knocked down the $ 1.51 resistance. If prices hold at this current level, MATIC could test a resistance at $ 1.56.

MATIC’s four-hour chart showed mixed signals when MACD shows red bars on the histogram. The indicator also showed a bearish divergence from the alt price, which signifies possibilities for a price correction. If prices recede, the alt could rest at the $ 1.36 support line.

Conversely, Awesome oscillator had green signal bars indicating a bullish move, along with a rally seen in the Relative Strength Index.

XRP

MATIC, XRP and Dogecoin Price Analysis - Aug 16

XRP / USD, TradingView




The XRP coin saw a slight decline of 1.0% in the last 24 hours. Prices last touched the current level on May 19, after which, the coin fell back to the support level of $ 1.22. A similar outcome awaited XRP if the bears take over the market.

Techniques for XRP emanated bullish signals such as the Awesome oscillator Red signal bars were observed indicating a bearish movement. Bollinger Bands diverged greatly, indicating great potential for increased market volatility.

Relative Strength Index traded in overbought territory, which could trigger a price reversal.

Dogecoin (DOGE)

MATIC, XRP and Dogecoin Price Analysis - Aug 16

DOGE / USD, TradingView

Dogecoin spiked 10.8% with prices at $ 0.338, moving away from its $ 0.273 support level, the alternative was seen looking at its immediate resistance at $ 0.344. DOGE’s technical analysis was bullish in nature.

Awesome oscillator pointed to amplified green signal bars which resulted in upward pressure in the market. Chaikin money flowDespite noticing a small decrease in capital inflows, it was observed well above the midline within bullish territory.

Relative Strength Index it was photographed over overbought territory with the possibility of a pullback. In such a case, Dogecoin could trade around the $ 0.314 support level.

This is a machine translation of our English version.

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TAMMY SEWELL
Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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